Notes to SEFA
Title: Relationship to Basic Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all expenditures of federal award programs of Two Rivers Water Reclamation Authority (the “Authority”). The Authority is defined in Note 1 to the Authority’s basic financial statements. The information in this schedule is presented in accordance with the requirements of 2 CFR 200-Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. All federal awards received directly from federal agencies, as well as federal awards passed through other agencies is included on this schedule of expenditures of federal awards. The accompanying schedule of expenditures of federal awards is presented on the budgetary basis of accounting. This basis of accounting is described in Note 1 to the Authority’s basic financial statements. The information in this schedule is presented in accordance with the requirements of 2 CFR 200-Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% de minimus indirect cost rate as allowed by the Uniform Guidance.
Amounts reported in the accompanying schedules agree with amounts reported in the Authority’s financial statements.
Title: Relationship to Federal Financial Reports
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all expenditures of federal award programs of Two Rivers Water Reclamation Authority (the “Authority”). The Authority is defined in Note 1 to the Authority’s basic financial statements. The information in this schedule is presented in accordance with the requirements of 2 CFR 200-Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. All federal awards received directly from federal agencies, as well as federal awards passed through other agencies is included on this schedule of expenditures of federal awards. The accompanying schedule of expenditures of federal awards is presented on the budgetary basis of accounting. This basis of accounting is described in Note 1 to the Authority’s basic financial statements. The information in this schedule is presented in accordance with the requirements of 2 CFR 200-Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% de minimus indirect cost rate as allowed by the Uniform Guidance.
Amounts reported in the accompanying schedules agree with the amounts reported in the related federal financial reports, where applicable.